Daily Archives: March 14, 2019

Heineken unveils its first brewery in Mozambique

Heineken NV announced on Wednesday the opening of its $100 million brewery in Maputo, Mozambique.

According to the company, the brewery will have a production capacity of 0.8 million hectoliters and will brew Txilar, a new beer specially made for the Mozambican market. It will also offer other trade marked Heineken international brands including Heineken®, Amstel, Sagres and Strongbow.

Mozambique has a GDP growth rate of 3.5% at the end of 2018 with beer consumption level of10.5-litres per capita.

Commenting on the new brewery, Jean-François van Boxmeer, chairman of the Executive Board and CEO, Heineken, said: “The population is young and vibrant, the middle-class is growing and living increasingly in cities, the economic perspectives are encouraging and the beer market has a great potential to grow.

FTN Cocoa Processors fights to fend off liquidation

FTN Cocoa Processors Plc is facing threat to its existence as bankruptcy looms.

The once thriving enterprise, which has fallen on hard times in recent years said in a statement released to the Nigerian Stock Exchange (NSE), that it had not held an Annual General Meeting (AGM) or declared dividends over the last two years due to financial difficulties sourcing working capital to procure cocoa beans.